Tongding Internet (002491.SZ) plans to establish a joint venture company to strategically extend into the upstream core raw materials field.

The Zhitong Finance APP news, Tongding Interconnection (002491.SZ) announced that the company intends to jointly establish Jiangsu Dingchun Technology Co., Ltd. (hereinafter referred to as "Dingchun Technology") with Jiangsu Mulinseng New Materials Co., Ltd., Mr. Li Xiangyu, and Ms. Qian Feiyi, individuals associated with each other. The registered capital is 10 million RMB, with the company contributing 4.5 million RMB in cash for a 45% equity stake in Dingchun Technology; Mulinseng contributes 4 million RMB in cash for a 40% equity stake; Mr. Li Xiangyu contributes 1 million RMB in cash for a 10% equity stake; and Ms. Qian Feiyi contributes 500,000 RMB in cash for a 5% equity stake. At the same time, the company will sign a Voting Rights Proxy Agreement with Mr. Li Xiangyu and Ms. Qian Feiyi, in which they agree to delegate their voting rights corresponding to the 10% and 5% equity stakes they respectively hold in Dingchun Technology to the company to achieve actual control of Dingchun Technology. After this transaction is completed, Dingchun Technology will become a subsidiary of the company, included in the company's consolidated financial statements.